Mid-America Apartment Communities (NYSE:MAA) Price Target Lowered to $164.00 at Wells Fargo & Company

Mid-America Apartment Communities (NYSE:MAA) had its price target cut by equities research analysts at Wells Fargo & Company from $174.00 to $164.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.53% from the company’s previous close.

Several other brokerages have also recently weighed in on MAA. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a report on Tuesday, December 17th. JMP Securities reissued a “market outperform” rating and set a $160.00 price target on shares of Mid-America Apartment Communities in a report on Friday, January 10th. Royal Bank of Canada reduced their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $166.00.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $148.38 on Friday. The company has a 50 day simple moving average of $155.13 and a two-hundred day simple moving average of $154.50. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 2.37 and a beta of 0.91. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities has a 12 month low of $121.51 and a 12 month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. As a group, analysts predict that Mid-America Apartment Communities will post 8.89 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MAA. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities during the third quarter worth approximately $25,000. Activest Wealth Management acquired a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth $32,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth $37,000. Quarry LP acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $45,000. Finally, UMB Bank n.a. boosted its position in shares of Mid-America Apartment Communities by 30.5% during the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 75 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.